Seattle Mortgage Rates Today 8/20/12
Seattle Mortgage Rates Today 8/20/12: With not much to report today, let’s visit the crisis still plaguing Europe. The European Central Bank is deliberating some sort of proposal which would attempt to contain bond yields as they are rising out of control. Some believe this would buy some time to execute a plan to grow and begin paying down sovereign debt. Although bond buying may assist in stabilizing bond yields to a certain degree, it will not resolve the debt problems they are facing. A plan must be put into place soon; control of Spain and Italy’s crisis can easily get out of control. This is exacerbated by the current state of Greece where austerity measures are not being met and the ECB does not want to fund them any longer.
As we see stocks trading at 4 year highs and bonds trading at 2 month lows, it’s difficult to see rates climb any higher. Why? Again, the crisis in Europe is far from over with no real plan of action in sight; the US economy is still sluggish with bits of optimism; and being an election year, uncertainty abounds.
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